Forecasting in Manufacturing: : Predicting Frozen Biscuit Packaging Demand in Times of Uncertainty / Hari Rajagopalan.

Format:

Book

Author/Creator:

Rajagopalan, Hari, author.

Language:

English

Subjects (All):

Supply chain management.

Physical Description:

1 online resource

Other Title:

Forecasting in Manufacturing

Place of Publication:

[Place of publication not identified] : SAGE Publications, Inc., 2024.

Summary:

In this Data Challenge, students are presented with background information about a business that produces packaging solutions for frozen foods in the United States. The information also includes six years of data outlining monthly consumer demand.After determining the proper forecast model specification, the students will be asked to put together a forecast of the consumer demand and sales revenue for early 2020. In the second phase, they will compare their forecasts with the actual demand from January - April 2020.Students should be familiar with the different time series forecasting methods including techniques like simple moving average, exponential smoothing, trend corrected exponential smoothing, and trend and seasonality corrected exponential smoothing. Students should also be aware of static forecasting techniques using regression. Alternatively, these methods can be taught using the same data set provided.Students will be able not only to create the forecast using the data but also to use the storyline to make decisions on what kind of forecast will be applicable to the situation. This challenge will help students develop their technical skills in forecasting using Excel. It will also help them understand that the role of an analyst is to look not just at the data but also at non-quantitative elements and adjust the forecast that is produced by the data they have.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

1-0719-6829-7

9781071968291

OCLC:

1463981160